U.S. Markets – S&P 500 vs. U.S. 10-Year Bond Correlation Will the 10-year correlation between the S&P 500 and U.S. 10-year bonds turn positive again? Image: Goldman Sachs Global Investment Research
The Long-Term Correlation Between U.S. Stocks and U.S. Interest Rates Rising interest rates tend to have a negative effect on earnings and the stock market. Image: Real Investment Advice
Correlation Between Cyclically Adjusted P/E and Forward Returns The current Shiller P/E suggests that U.S. equity investors should expect anemic returns over the next 10 years. Image: Goldman Sachs Global Investment Research
Gold vs. U.S. 10-Year Real Yields and U.S. Dollar Index – 3-Month Correlation of Weekly Return Generally, U.S. 10-year real yields and the U.S. dollar are negatively correlated with the price of gold. Image: Goldman Sachs Global Investment Research
5-Year Rolling Correlation Between S&P 500 TTM EPS YoY vs. China Nominal GDP and U.S. Nominal GDP China’s economic growth slowdown suggests trouble ahead for the S&P 500. Image: BofA US Equity & Quant Strategy
Correlation Patterns Across Macro Assets – Relationship with Growth-Driven Inflation vs. Relationship with Adverse Inflation Should investors expect reflationary dynamics to dominate? Image: Goldman Sachs Global Investment Research
Bonds and Correlations – 30-Year Treasury Yield The U.S. 30-year Treasury yield correlates with many intra-equity trends. Image: Alpine Macro
Growth Stocks – One-Year Correlation: 10-Year US Treasury Yield/MSCI Value Index vs. 10-Year US Treasury Yield/MSCI Growth Index U.S growth stocks are currently highly correlated with U.S. bond yields, as they were during the dotcom bubble. Image: Morgan Stanley Wealth Management
90-Day Moving Correlation Between U.S. 10-Year Treasury Bond and FAANGM Stocks Rising bond prices tend to be bullish for FAANGM stocks. Image: Alpine Macro
1-Month Correlation with the S&P 500 The equity/bond correlation has risen back above zero, driven by real rates. Image: Goldman Sachs Global Investment Research